This week is gearing up to witness several major token unlock events that are expected to impact the altcoin market. Token Unlock data reveals that RON and AVAX will be at the forefront and a significant amount of tokens will be released. In addition, 1inch (1INCH) and Euler (EUL) will also unlock tokens, further contributing to liquidity and market dynamics. Now let’s get into the details.
There are important key openings for these altcoin projects
Tomorrow there is an unlock process for Sweatcoin. On the other hand, Avalanche Blockchain’s native token, AVAX, will be the highlight of this week’s token unlock events. AVAX will launch an impressive $137 million worth of tokens on May 28. A total of 9,541,800 AVAX tokens will be released at this unlock event, making up 1.32 percent of the total supply of tokens. Market participants and investors are eagerly awaiting this event as it is expected to inject significant liquidity into the AVAX ecosystem.
Another notable token unlock event was for Polkadot (DOT) on May 26, 2023. The market reaction to this unlock event will be watched closely to assess possible price fluctuations. On the other hand, on May 24, 138,219 EULs worth approximately $276,000 will be unlocked. This unlock event accounts for 0.508 percent of the total EUL supply. As the tokens go into circulation, traders and investors will closely monitor the impact of EUL on market dynamics, including trading volume and price movements.
Token unlocks impact the market
In addition, 4,657,534 ACAs worth approximately $256,000 will be unlocked on May 25. This unlock event accounts for 0.466 percent of the total ACA supply. The market’s response to the increased ACA token supply will provide insight into the token’s liquidity and potential trading patterns. In another token unlock event scheduled for May 27, 14,571,969.03 RON tokens will be released, equivalent to approximately $14.21 million. This unlock event accounts for 1.45 percent of the total RON supply. The market will closely monitor the price movements and trading activity of RON in response to the increased token circulation.
On the same day, on May 27, 16,872,453 YGG tokens worth approximately $3.02 million will be unlocked. This unlock represents 1.68% of the total YGG supply. Market reaction to increased token availability will be observed to understand the impact of YGG on trading volume and market dynamics. Finally, on May 24, 1inch (1INCH) and Euler (EUL) tokens, worth approximately $8.6k and $276.4k, respectively, will be unlocked. These unlocking events will add to the overall liquidity and trading activity of both tokens, potentially influencing market prices. As Cryptokoin.com reported, as these token unlock events continue throughout the week, market participants and investors will closely monitor the impact of each token on its supply, liquidity and market dynamics.
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